Choose whether the given statement is True/False:

Democracies are based on political equality and not on economic equality.

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True

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Detailed Solution

The above statement is true.
The foundation of democracies is political equality. Political equality is the idea that every nation's citizen has the right to vote and choose their representatives regardless of caste, creed, sex, or other distinction. As a result, the universal adult franchise is put into practice, where each person has one vote, and each vote has equal value. Based on this, elections are held, and representatives or leaders are elected.
On comparing the economic growth rates of different countries from 1950 to 2000, it can be concluded that democratic countries face issues like economic inequality and a widening gap between the rich and poor. It is evident that economic growth is not the priority, but political equality is. It is believed that political equality will empower individuals to attain economic equality in the long run.
Thus, democracies are based on political equality and not on economic equality.

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